Precious metals prices up; WTI declines

Precious metals ended the session higher in New York on Thursday after the dollar declined in relation to the euro for the third consecutive session as the European Central Bank kept Eurozone interest rates at 4 percent for the time being.

December gold ended the session $3.90 higher to $837.40 per troy ounce while silver for December delivery ended the session with a gain of 21 cents to $15.53 per troy ounce.

Meanwhile, January platinum added $11.30 to $1,473.60 per troy ounce.

Among base metals, December copper fell 6 percent on the session to $3.20 per pound in New York, while three-month copper in London dropped $115 to $7,200 per tonne.

Crude oil prices were lower near the close of floor trade in New York on Thursday, but crude prices in London and at-the-pump prices in the US were higher, cresting the $3 per gallon level on average.

West Texas Intermediate crude for December delivery had dropped $1.12 to $95.25 per barrel shortly before the end of the session on the New York Mercantile Exchange while December contracts for Brent crude added 36 cents to $92.90 per barrel on the ICE Futures Europe exchange in London.

The American Automobile Association and the Oil Price Information Service, meanwhile, reported that US prices for gasoline at the pump were up 1.8 cents overnight to $3.061 per gallon.

Nymex December gasoline traded even at $2.44 per gallon while December heating oil dropped 1 cent to $2.61 per gallon and December natural gas added 2 cents to $7.65 per million British thermal units.

Among agricultural commodities, grains prices were mixed at last report.

In afternoon trade on the Chicago Board of Trade, January soybeans had added 2.75 cents to $10.41 per bushel and December corn was 5.25 cents higher to $3.89 per bushel, but December wheat had dropped 25 cents per bushel to $7.62 per bushel.

Story link: Precious metals prices up; WTI declines